Form 990 And Unrelated Business Income

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WC-1023098

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Recorded

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Webinar

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Description:

The IRS Form 990 must be both a complete and accurate document as well as a transparent source of information that is relied upon by potential funders, beneficiaries, the media, and the public in general.

This webinar will provide an overview of recent significant changes to the Form 990 and will explain certain important disclosure issues that the presenters repeatedly have encountered.

After this class, you will be able to identify key filing considerations and understand the underlying tax exemption principles involved. In addition, we will examine the core elements of unrelated business income and review strategies for recognizing and minimizing this tax liability.

Agenda

Form 990 - Overview

Determining Which Form to File

Summary of Recent Changes

Form 990 - Certain Key Issues

Governance, Management and Disclosure

Reporting Compensation

Determining Related Organizations

Transactions With Interested Persons

Public Charity Status and Public Support

Unrelated Business Income Tax (UBIT)

Overview

What Is Substantially Related Income?

Common UBIT Exceptions

Exceptions to the Exceptions

Update on Recent UBIT Rulings

You Have Unrelated Business Income; Now What?

Filing the Form 990-T

How Much Is Too Much?

Strategies for Managing

About The Presenters

David A. Levitt

Principal with Adler & Colvin

Practice focuses on the representation of nonprofit and tax-exempt organizations, with an emphasis on program-related investments, social enterprise, political advocacy, and nonprofit corporate governance

Speaks regularly on nonprofit and tax exemption legal matters

Has served as an adjunct professor at the University of San Francisco, teaching a nonprofit legal issues course in the College of Professional Studies

Most recently before returning to Adler & Colvin, she served as assistant general counsel at Wayne State University in Detroit, Michigan; she advised the university in a variety of transactional, planned giving, and other matters related to the university’s exempt status

Also practiced as a corporate transactional associate at Cooley, LLP where she advised both emerging and public companies in a variety of matters, including financing activities, SEC reporting and compliance, and mergers and acquisitions

Has served as adjunct faculty in the Masters of Nonprofit Management program at the University of San Francisco, and has often lectured for nonprofit professionals and legal advisors on tax and corporate governance issues affecting exempt organizations and their donors

J.D. degree, University of California, Berkeley; B.A. degree, University of California

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